AFL.com.au understands Hird is investigating taking up a course abroad while he is banned from coaching Essendon, with the possibility of being out of Australia for up to nine months.
Hird has experience as a stockbroker, has a bachelor's degree in civil engineering and business, and is a non-executive director of gemba, the company he helped build before taking on the coaching role at the Bombers at the end of 2010.
Essendon confirmed on Thursday Hird would not be senior coach of the club in 2014, even though his ban is set to end before next year's finals series.
Craig took Dons' job after talking to Hird
Bombers chairman Paul Little said Hird believed he shouldn't return for the end of next season, but guaranteed him the senior position in 2015.
"James' view was that it would be unwise for him to come back to coaching ... the decision was made very early in the piece," Little said after announcing Mark Thompson as the club's interim coach.
Thompson said Hird would not be involved at all through his suspension.
"We're not going to break any rules here, we're going to play by the rules, and James is OK with that," he said after taking on the role.
"We can remain friends but he won't have any active involvement in how the team is going."
Hird would not be the first football figure in recent years to head overseas for study purposes, with former West Coast coach John Worsfold attending a leadership course in France in 2009 during his off-season.
Earlier this year, Geelong chief executive Brian Cook took two months' study leave in America for a prestigious business and leadership course at Harvard University in Boston.
The AFL Coaches Association is assisting Hird with his future plans.
Twitter: @AFL_CalTwomey
Bombers chairman Paul Little said Hird believed he shouldn't return for the end of next season, but guaranteed him the senior position in 2015.
"James' view was that it would be unwise for him to come back to coaching ... the decision was made very early in the piece," Little said after announcing Mark Thompson as the club's interim coach.
Thompson said Hird would not be involved at all through his suspension.
"We're not going to break any rules here, we're going to play by the rules, and James is OK with that," he said after taking on the role.
"We can remain friends but he won't have any active involvement in how the team is going."
Hird would not be the first football figure in recent years to head overseas for study purposes, with former West Coast coach John Worsfold attending a leadership course in France in 2009 during his off-season.
Earlier this year, Geelong chief executive Brian Cook took two months' study leave in America for a prestigious business and leadership course at Harvard University in Boston.
The AFL Coaches Association is assisting Hird with his future plans.
Twitter: @AFL_CalTwomey
